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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (37064)	1/9/2000 11:35:00 AM
From: Lee Lichterman III	Read Replies (3) \| Respond to of 99985

We have lost enough people off this thread so I am not going to single out anyone plus as I told Ike in our spat, I don't have the time to re-read hundreds of posts to find what suits the purpose and paste them. I just think we should try and be as plain and clear as possible or else come right out and say we aren't sure as I have done this weekend. I know I don't have the slightest idea what is going on after scrolling through hundreds of charts and posts. My weekly, P&F and 3 line charts all point down but the daily charts and infuence of options expiration seem to point up. As imprestine first pointed out, if options are heavily inthe money and we little guys are the ones holding them all, then that could slant expiration downward instead but I can't even get the site I pull all the open contracts from to open the last 2 days so I am blind as to where we stand as far as near the money calls and puts to figure out the maximum level of hurt. My original forecast from a week or so ago was for us to be up through options expiration then fall. This severe dip last week may have relieved some pressure to delay that but I am not sure yet and the broadening of the market last week especially has me more bullish than I was. The question is if this is just January affect and the broadening will go back to it's lousy state in a month. I would be really really bullish if the QCOMs, CSCOs, SUNWs etc would get down to some more realistic valuations. If the excesses were bled off here and the internals would improve, then I would be buying hand over fist. Until then, I am still looking for some sort of a top to short and dipping long technical support bounces for scalps. Good Luck, Lee